Ola at a glance
- Population: 920 residents, the 191st-largest of 500 places in Arkansas (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 935 residents here (US Census Bureau).
- 2020 to 2023 change: about 1.6% below the 2020 Census base (US Census Bureau).
- Rank among Arkansas places: 191st of the state's 500 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 62% of Arkansas's Census places by population (US Census Bureau).
- Coordinates: 35.0314 latitude, -93.2240 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Danville, AR (10 mi); Dardanelle, AR (14 mi); Pottsville, AR (17 mi); Russellville, AR (18 mi); London, AR (20 mi); US Census Bureau population estimates.
- Nearest smaller communities: Plainview, AR (5 mi); Casa, AR (10 mi); Corinth, AR (11 mi) (Census populations).
What a personal loan costs in Ola
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Arkansas lending rules that apply in Ola
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
How to compare offers in Ola
Here is a short checklist for comparing personal loans in Ola:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.